Car Insurance Gadgets in the Connected Age

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Car insurance companies have always quoted rates by standard measurements, age, marital status, sex, miles driven and even credit scores. Now, many companies are offering new technology that plugs in to your vehicle and collects data as you drive.

Drivers who sign up for this wireless gadget can save well up to 30% on their insurance rate. Keeping track of such things as miles driven during the day/night, brake usage for hard or extreme braking, and speeds that may exceed certain driving safety. It doesn’t work as a GPS, can’t keep track of you not stopping for a stop sign, nor does it know if you’re speeding over the limit per zone.

It is a very simple process to plug in or have it installed and nowadays it’s all wireless. It collects the data as you go about your daily driving day. You can even log on to the company website to see how your driving is measuring up, just as the company can. After usually a six month period, the insurance company can reassess you and your driving, and adjust your rate.

Knowing this, it’s just another option out there for drivers to save money and be rewarded for their safe driving. It is voluntary and some companies will even allow you to “test drive” the gadget and send you insurance quotes accordingly; even if you’re not a policy holder.

Using the device allows people to pay more attention to their driving skills knowing that good driving behavior will drop their premiums. Of course, continued monitoring is required to stay within the lower percentage and after an accident, your policy would be up for review.

Allstate, Progressive and State Farm are leaders in this new gadget technology and know that more and more drivers are opting-in for this program. It’s easy to say as this field of “user-based insurance” expands most companies will see the drivers who don’t opt-in as a bad risk.

Keep in mind that we all view ourselves as good and safe drivers until a little wireless gadget can prove otherwise. As a way to save money these days as long as your report comes back positive for safe driving, what have you got to lose?